PowerSwitch

Petrobas and the Brazilian Government went public about about the Tupi field yesterday. They seem to want to be the new Middle East.

Is it a small field 200 miles at sea in 2000 metres of water or a new province that changes the world?

Nothing small about it, it's the lagest field since Kashagan, and it's light: Bloomberg

From the Bloomberg piece.

"Petroleo Brasileiro SA, Brazil's state-controlled oil company, said its Tupi field may contain as much as 8 billion barrels of oil"

So it may be as much as 100 days of world supply.

"The Tupi field is in a region that lies about 250 kilometers (402 kilometers) off the coast of Rio de Janeiro in water as much as 3 kilometers deep. The oil rests a further 5 to 7 kilometers below the ocean floor"

I'm not an engineer but that doesn't particularly accessible - it's surely not going to be cheap to get it out.

And toward the end of the article, the rather ominous:

"Tupi may have enough oil to supply all U.S. needs for more than 14 months."

About as much oil (if we accept the higher estimate) as the UK has left. A nice little earner for Brazil but will hardly make them a major oil producer as some of the news broadcasts claimed.

Unless it takes them ten years to get it up and running when that amount of oil will be even more valuable.

Hehehehe. Tuppy is a word the Cornish use to refer to the female genitalia.... hehehehe.

^

I like this quote from the BBC website:

"A senior minister said Brazilian oil production had the potential to match that of Venezuela and Saudi Arabia."

Hmm. Brazil 8Gb - Saudi Arabia about 170Gb. Let me think about this...

If Tupi at maybe 5Gb is all there is, then it's not going to change anything, but they are suggesting that Tupi might be a 'tiny' (their word) part of a new province. That's something else.

And so Brazil suddenly achieves a certain gravitas the Kyoto Replacement talks......

Peak oil theory suggests that they would find the largest oil fields first.

like this quote from the BBC website:

"A senior minister said Brazilian oil production had the potential to match that of Venezuela and Saudi Arabia."

Hmm. Brazil 8Gb - Saudi Arabia about 170Gb. Let me think about this...

Well, maybe Saudi Arabia only has 8Gb left! Maybe we're not being pessimistic enough.

I should drink less coffee.

WolfattheDoor wrote:Peak oil theory suggests that they would find the largest oil fields first.

That's only a suggestion. If the largest happens to be 250 miles off shore and 2000 metres under water it might not have been the easiest to find first. (Don't ignore the 'if'.)

... So online 2016(ish)?

It would be interesting to see how much it would cost to get out of the ground at today's prices. Is anyone here prepared to have at stab at that? (i'm no expert at these things)

With these hard to get at sources it's going to be the production rate rather than the size of the reserve that counts.

Iran thinks that the UK's reserves are as much as 9.4 billion barrels.

So what is the Tupi figure? Oh, just 8 billion barrels ....



http://www.presstv.ir/detail.aspx?id=30 ... id=3510213